Economic sentiment improved in October

BUSINESSES’ confidence in the Slovak economy improved in October. Compared with the previous month, economic sentiment improved by 1.9 points to 93.1 points. Yet, sentiment is still lower than last year when it stood at 93.5 points. Moreover, it lags behind the long-term average by 12.2 points, the SITA newswire reported.

BUSINESSES’ confidence in the Slovak economy improved in October. Compared with the previous month, economic sentiment improved by 1.9 points to 93.1 points. Yet, sentiment is still lower than last year when it stood at 93.5 points. Moreover, it lags behind the long-term average by 12.2 points, the SITA newswire reported.

The sentiment indicator in industry rose by 4 points month-on-month in October to 3.7 points, which is the highest level since January 2012. It is a result of positive expectations of production growth in the following three months, SITA wrote.

Also, the indicator in construction improved when it rose by 3.5 points month-on-month to -45.5 points, a result of a more positive evaluation of current demand in the sector. At the moment the indicator lags behind its long-term average by 19.5 points, according to SITA.

The sentiment indicator in business rose slightly compared with September. The 0.3-point increase was a result of a more positive prediction of the business situation for the following three months and a lower level of reserves. The indicator in services rose by 0.6 percentage points to 6 points, SITA wrote.

In addition to this, consumer confidence in Slovakia also improved. Compared with previous months, it rose by 1.2 points to -21.8 points. The indicator also improved in annual terms, rising 16.2 points, SITA reported.

Source: SITA

Compiled by Radka Minarechová from press reports

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